Foreign Currency Trading

Easy to understand analysis of GBP/USD and EUR/USD currency pair for their action during June 15 London Forex trading session is presented in this video preview.

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Very conservative breakout trading plans for EUR/USD and EUR/JPY are presented in this London Forex trading session video preview.

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The best time to trade the forex market is when it’s the most active and thus has the largest volume of trades. A fast currency market means more opportunity for price moves either up or down. A slow market sometimes means you are wasting precious time turn off your personal computer and go fishing! The best volume of currency transactions go thru during London time, followed by Big Apple and then Tokyo hours. London time so is the centre of the FOREX trading universe. What does this mean to us the average foreign exchange trader and is there a best time to trade our selected currency pair? Yes! First off we must look at overlapping trading times. The foreign exchange market starts with Eastern traders between eight hundred pm to four hundred am EST. At three hundred am EST London traders start their day and finish at 11:00 am EST. Manhattan traders open at eight hundred am and finish at four hundred pm EST. If we are trading EUR / Bucks, USD / GPB currency pairs we must look at when the trading time for these pairs overlaps., the best time to trade the currency pair : EUR / Dollars and Greenbacks / GPB is between seven hundred am and 11:00 am EST when the 2 markets for these currencies are most active. ( ie.

When they are overlapping ). Foreign exchange trading is a 0 sum game and we as traders must attempt to do whatever’s necessary to get that additional edge over our competitors and swing the percentages in our favor. Selecting the best time to trade the currency pair we have selected is an example of the things under our control that will simply be done.

Another thing currency exchange day traders should be conscious of related to the best time to trade is that Mondays and Fridays are usually poor days to trade.

Why is this? Empirical research implies that Monday trading is mostly initial as the market is making an attempt to make careful steps to approve or build a trend. CONCLUSION : The best time to trade the currency pair of your choosing is when trading in that particular currency is most active. The best days to trade the foreign exchange market is rather more likely between Tues. and Thu. . Good luck with your trading!

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The cable pair (GBP/USD) is previewed in this London Forex trading session video, based on the support and resistance analysis. Some insights towards GBP/JPY are also given.

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I will be on vacation next week. For comments on the currency market, please visit FX360.com and while you are there check out our new Trader Talk section which is near the bottom of the homepage!

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May Non-farm payrolls are due for release tomorrow and as usual, I want to warn currency traders about the dollar’s knee jerk reaction to NFP. Five out of the last five non-farm payrolls were released, the knee jerk reaction was quickly erased. Even though the direction associated with these instances has not always been the same, we can see that the immediate reaction is not sustained, and eventually reversed into a more substantial move that lasted for the course of the day.

I have written an extensive preview on what I expect for non-farm payrolls on FX360.com, make sure you read it May Non-Farm Payrolls Preview: The Charts that Matter

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The author of this video offers bullish EUR/USD lookout on the daily chart with a high probability of growing short-term. GBP/USD is bearish in H4 chart moving in the channel.

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I was on CNBC this afternoon talking about the outlook for the Australian and New Zealand Dollars

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David Pegler believes that today’s London Forex session will be quite interesting and offers analysis of the 3 pairs — EUR/JPY, EUR/USD and GBP/USD with a longer-term review of the latter.

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Four major Forex pairs are previewed in this video — USD/JPY, EUR/USD, GBP/USD and USD/CHF. Possible support and resistance levels (both short-term and long-term) are given for each of the currency pairs.

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